Silver Dollar Terminates Exclusivity Period with Canasil Resources
FOR IMMEDIATE RELEASE
Silver Dollar Terminates Exclusivity Period with Canasil
Resources
VANCOUVER, BC – June 12, 2023 – Silver Dollar Resources Inc. (CSE: SLV) (OTCQX:
SLVDF) (FSE: 4YW) (“Silver Dollar ” or the “Company”) reports that, further to its news
release of April 20, 2023 , it has terminated the exclusivity period provided in the Exclusivity
Agreement signed with Canasil Resources Inc. (“Canasil”) due to general market conditions.
The purpose of the Exclusivity Agreement was to give Silver Dollar the opportunity to review
Canasil's assets and consider a corporate merger . Termination of the exclusivity period does not
affect the separate Option Agreement between the parties, whereby Silver Dollar can earn a 100%
interest in Canasil's Nora silver-gold property (the "Nora Option").
Under the terms of the Nora Option, Silver Dollar can earn a 100% interest in the Nora property
(the “Property” ) by incurring total exploration expenditures of $3,000,000 and making cash
payments totaling $375,000 over five years. Upon earning a 100% inter est in the Property, Silver
Dollar will grant Canasil a 3% net smelter returns royalty (the "Royalty"), with Silver Dollar having
the right to buy back 1% of the Royalty for $3,000,000. After granting the Royalty, Silver Dollar
will also pay an annual roya lty of $25,000 which will be offset against the 1% Royalty buyback.
For additional information on the Property, see Silver Dollar’s news release of May 24, 2023.
Pursuant to the agreements , Canasil now has 60 days to repay the $200,000 non -interest-bearing
loan Silver Dollar provided in return for the exclusivity period and the Nora Option.
About Silver Dollar Resources Inc.
Silver Dollar is a mineral exploration company that completed its initial public offering in May
2020 and is fully funded for its 2023 exploration plans with approximately $5 million in the
treasury. The Company’s primary projects lie within the prolific Durango-Zacatecas silver-gold
belt and include the advanced exploration stage La Joya Silver Property and the recently discovered
Nora Silver-Gold Property, both located in the state of Durango, Mexico. The Company has an
aggressive growth strategy and is actively reviewing potential acquisitions with a focus on drill-
ready projects in mining-friendly jurisdictions.
For additional information, you can download our latest presentation by clicking here and you can
follow us on Twitter by clicking here.
ON BEHALF OF THE BOARD
Signed “Michael Romanik”
Michael Romanik,
President, CEO & Director
Silver Dollar Resources Inc.
Direct line: (204) 724-0613
Email: [email protected]
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release may contain “forward -looking statements.” Forward -looking statements involve known and
unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or
achievements of the Company to be materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of
this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or
obligation to update any forward -looking statement, whether as a result of ne w information, future events or results
or otherwise.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the
contents of this news release.